e-Filing: Give Adhaar, No Need To Send ITR-V
The use of Adhaar will make the e-filing of income tax return fully online.
The quick e-File has made the income tax return filing very easy even for
non-tech savvy person. Now the integration with Adhaar will make the income tax
return e-Filing a 15 minute exercise. The bottleneck of online return filing is
the ITR-V, hopefully after the use of Adhaar the ITR-V may become history.
What is ITR-V
The ITR-V is a legal
proof of income return e-filing by you. Since income tax often turns into the legal case,
the income tax department needs ‘verified’ and ‘authentic’ income tax return
from the taxpayer. The online income return e-filing does not contain your
signature. There is a digital signature, but it is very costly for
individual taxpayers. Therefore, you need to send a physical copy of income tax
return form with your signature it it. It gives a valid proof to the income tax
department.
The New system of ITR Submission
1. In the new system
you may fill the Adhaar number in the ITR form.
2. You will get
a one time password (OTP) on your mobile number before final submission of
income tax return form. The OTP would be sent to the mobile number which is
registered with Adhaar. The OTP will remain valid for 24 hours.
3. Enter the OTP and
complete the e-filing process.
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